U.S. catalysts group Engelhard agreed on Tuesday to a $5.07 billion takeover by BASF AG after the German chemicals group sweetened its offer for a second time. BASF said the New Jersey-based Engelhard's board would recommend that shareholders accept the offer of $39 per share, an increase of $2 over BASF's original offer. BASF said Engelhard's investors will have an opportunity to voice their opinions on the offer at Engelhard's annual meeting on Friday.
May 31, 2006 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
U.S. catalysts group Engelhard Corp. on Tuesday agreed to a $5.07 billion takeover by BASF AG after the German chemicals group last week sweetened its offer for a second time.
Ludwigshafen, Germany-based BASF said Engelhard’s board would now recommend shareholders accept the offer of $39 per share, an increase of $2 over BASF’s original offer.
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